Business and Economy

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Thousands Of Mainers Vie For 11 Licenses To Fish Baby Eels

Jan 18, 2018
Robert F. Bukaty / Associated Press/file

More than 3,000 Mainers are vying for one of just 11 new baby eel fishing licenses that Maine will issue this year as it reopens the lucrative fishery.

Willis Arnold / Maine Public

Maine's largest electric utility has a new CEO.  Doug Herling took over operations of Central Maine Power Company Jan. 1, a day after the utility's long-time leader Sara Burns stepped down. 

Susan Sharon / Maine Public

It’s been a rough start to the new year for thousands of customers who rely on home heating fuel and for the companies that provide it.

FairPoint Name Vanishing As Consolidated Begins Rebranding

Jan 16, 2018
Robert F. Bukaty / Associated Press

PORTLAND, Maine  — The company that bought FairPoint Communications is discarding the old name and making plans to upgrade the service of tens of thousands of customers in northern New England.

Consolidated Communications, which has operations in 24 states, is going to begin rebranding with its own logo for trucks and buildings early in the new year, providing the most visible change for its customers in Maine, New Hampshire and Vermont since it bought FairPoint last summer.

Maine Opposing Push To Require All Lobstermen To Report Catch Data

Jan 16, 2018
Robert F. Bukaty / Associated Press/file

ELLSWORTH, Maine — The state’s top fisheries official says Maine lobstermen should not be subjected to stricter requirements for reporting their catch to federal regulators.

AUBURN, Maine - People in Maine lined up overnight for a chance at fresh and free doughnuts at the state's newest Krispy Kreme store.
Maine's second Krispy Kreme opened in Auburn Monday, after an enthusiastic response to the state's first store in Saco opening in October. Patrons began lining up at 6 p.m. Sunday night for a shot at free doughnuts.
Some who lined up Sunday night had their patience rewarded with a card that entitles them to free doughnuts every week for a year.

Camden National Bank plans to use some of the money it's saving on corporate taxes under the new Republican tax plan to give bonuses to its non-executive employees.

Full-timers will get a $1,000 bonus, part-timers $750.

Camden President and CEO Greg Dufour says while it's nice to be able to thank employees for their service, it's also about employee retention and long-term planning.

Robert F. Bukaty / Associated Press File

Maine regulators are putting a hold on an innovative offshore wind project’s proposed contract to sell electricity to Central Maine Power, the latest twist in Aqua Ventus’ attempt to test a floating turbine platform near Monhegan Island.

Among the fees on your monthly phone bill is a charge to fund the 911 emergency system. They all add up to about $7 million a year, but the fee has generated a surplus of nearly $6 million, and the Public Utilities Commission is now asking lawmakers for the authority to reduce the charge.

Robert F. Bukaty / Associated Press/file

The deadline to enter Maine's lottery for new elver fishing licenses is coming next Monday, Jan. 15.

Maine Department of Marine Resources spokesman Jeff Nichols says this year, there are 13 new licenses available for Maine residents who haven't had their eligibility suspended, and who are at least 15 years old.

"This is a nice opportunity for people to get into this - what is, by far, the most lucrative fishery we have on a per-pound basis," Nichols says.

In the last season, elvers were worth more than $1,300 per pound. Overall, the fishery brought in $13 million.

Joel Page / Associated Press File

This story was originally published Jan. 8, 2017 at 5:22 p.m. ET.

New England electricity customers could get a direct benefit from a cut in federal corporate taxes — lower utility bills.

Consumer advocates in New England are calling on regulators and utilities to turn over to ratepayers any savings from a reduction in the corporate income tax rate, which the recent tax law knocked down by 40 percent.

Cianbro CEO Peter Vigue Steps Down, Son To Take Over

Jan 9, 2018
Courtesy Cianbro / via Bangor Daily News

Peter Vigue, who has led The Cianbro Companies as chief executive officer for the past 17 years, stepped aside Jan. 1 in that role and will be succeeded by his son, Peter “Andi” Vigue, the company announced late Monday.

Front Street Shipyard

When JB Turner opened the Front Street Shipyard in Belfast six years ago, he had a handful of workers and a vision.

Gene J. Puskar / Associated Press File

CVS has purchased Portland-based specialty pharmacy Apothecary by Design. The sale price has not been disclosed, but a spokeswoman for CVS says the company expects to retain both Apothecary by Design’s name and its 38 employees.

CVS made the purchase on Sunday from private equity firm BelHealth, which bought a majority stake in Apothecary by Design about two years ago. BelHealth will continue to own Apothecary by Design's compounding pharmacy and fertility business.

The sale of the struggling harness racetrack Scarborough Downs, and its 500 acres of land, is now complete. 

That's according to Crossroads Holdings - managed by two sets of local brothers, William, Marc and Rocco Risbara III, of Risbara Bros., and Peter and Richard Michaud, formerly of Michaud Distributors - which closed on the land and existing buildings last week for $6,700,000.